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7. Finding and getting money

Local funding information sheet

These are details about small grants which are available for small groups and organisations within the voluntary sector in Bridgend County Borough. They are intended as a general guide, the contacts given will be able to provide you with more detailed information.

Most voluntary organisations could not exist without fundraising in some form. Some groups find that fundraising dominates their activities, whilst on the other hand, some projects who have the luxury of a three year guaranteed grant support, leave it until the last three or four months to find continuation funding. Getting the balance between providing your services and fundraising is crucial and it is important to ensure that your organisation has a fundraising strategy and that it has a high priority in your long term planning, in the regular work of your executive committee and in your day-to-day activities.

Before start applying for grants, you need to make sure that you have the basics in place. Are you a well run organisation? Do you manage your money well? Funders need to know that they can trust you with their money, and that your project is likely to success.

Many grant making trusts do not use forms, or even give guidance on what they want to know – the just tell you to “Apply in writing.” There are no absolute rules, but this information sheet gives a proposed structure for an application.

The availably and accessibility of loan finance to the third sector has increased considerably in recent years. Loans can benefit third sector organisations in many different ways but are not appropriate for every organisation.

Events are very public forms of fundraising and can be valuable opportunities for raising your charity’s profile nationally or in the local community. Fundraising events do not usually provide the largest sources of income, though these activities can lead to other indirect opportunities.

Many charitable organisations ask their supporters top consider leaving a legacy. This may take the form of a mailing or through adverts in the charity’s own newsletters or magazine. Some charities run workshops and events specifically targeted at raising awareness of legacies, others offer free will writing services for potential donors.

Donations are defined as voluntary gifts to a fund or cause, usually for charitable reasons. They can include money, possessions and ideas. Traditionally donations have been the backbone of a charity’s income. Donations are made for either general charitable work being undertaken or for specific appeals. It sis extremely important to remember that donations made and funds raised for a specific appeal must be used for that specific purpose.

Third sector organisations are increasingly seeking to diversify their income sources by incorporating strategies and techniques to achieve a sustainable funding base. Delivering goods or services under the terms of a contract is one of the many options that can be considered to generate income. The majority of third sector organisations that deliver contracts do so for the public sector. This information sheet is intended to provide a brief overview of procurement within the public sector.

Third sector organisations are increasingly seeking to diversify their income sources by incorporating strategies and techniques to achieve a sustainable funding base. Tendering for the delivery of goods and services under the terms of a contract is one of ma y options that can be considered to generate income. This information sheet is intended to provide a brief overview of tendering and issues that third sector organisations should consider before deciding to tender.

Contracts are won, and lost, on the quality of the tenders submitted therefore being able to write a good tender is essential. This information sheet is intended to provide a brief overview of how to develop a successful tender.

Third sector organisations are increasingly seeking to diversify their income sources by incorporating strategies to achieve a sustainable funding base. Tendering for the delivery of goods and services under the terms of a contract is one of the many options that can be considered to generate income.

Third sector organisations are increasingly being encouraged to diversify their income streams in a variety of ways to ensure long-term financial sustainability. This information sheet is intended top provide a brief overview on trading and the issues which third sector organisations should consider before embarking on a trading project.

The public provides the voluntary sector with one of its largest sources of income, though this income is far more difficult to obtain than from other sources such as trusts and grants. Individual donor support can only be obtained through various innovative and sometimes complex methods of fundraising, though when successful, these can be very lucrative.

Payroll enables employees to give to charity through their employer’s payroll before tax is deducted. It a tax-effective way for an employee to give regularly to charity. Employees can support one or more charities and they can give as much as they wish.

Payroll fundraising involves building relationships with employers and employees with the aim to promote the charity’s work and recruit committed donors. This information sheet provides information on how to go about developing a payroll giving strategy for your charity.

Gift Aid allows charities to reclaim from HM Revenue & Customs (HMRC) the basic rate of income tax on donations made by UK taxpayers. Gift Aid is a great way of boosting donations whatever their size, at no extra cost to the donor, and with little extra administration for the charity.

HM Revenue & Customs (HMRC) has a duty to ensure that the Gift Aid scheme is used properly and has the right to inspect any charity’s Gift Aid records. The basic requirement is that any charity operating a Gift Aid scheme must be able to demonstrate an audit trail.

Approaching companies for money or other support is still a relatively unknown role for many voluntary and community groups. Attracting money from companies does not mean that you have to change what you do or how you do it. You may just have to ‘sell’ yourselves in a slightly different way.

The Specialist European Teams (SETs) provide free information, advice and assistance to public, private and third sector organisations that are involved in the implementation of the European Structural Funds programme available in Wales during 2007 – 13.

Third sector organisations can work together to generate funds in a variety of different ways, from organising fundraising events, through encouraging one-off donations and regular giving, to joint tendering or trading. This information sheet is designed to provide introductory guidance to third sector organisations who are considering whether there are ways in which they could generate income through working with others.

Community investment is a method of communities investing capital in business ventures whose purpose is fore social and community benefit. By utilising the investment power of whole communities, potentially large amounts can be raised without the need to turn to the private sector or wealthy individuals.